On October 8, 2023, it was reported that First American Trust FSB had increased its stake in Trimble Inc. (NASDAQ:TRMB) by 3.2% during the second quarter. The institutional investor now holds 91,614 shares of the scientific and technical instruments company’s stock, after purchasing an additional 2,801 shares. These holdings are valued at $4,850,000 at the end of the most recent reporting period.
Trimble announced its earnings results on August 3rd, revealing earnings per share of $0.51 for the quarter. This exceeded the consensus estimate by $0.04 per share. Additionally, Trimble achieved a return on equity of 13.12% and a net margin of 9.45%. The company generated revenue of $993.60 million during the quarter, surpassing the consensus estimate of $979.08 million.
Looking ahead, analysts anticipate that Trimble Inc. will post earnings per share of 2.15 for the current year.
In other news related to Trimble Inc., CEO Robert G. Painter sold 3,000 shares of the company’s stock on August 10th in a transaction valued at $165,000 ($55 per share). Following this sale, Painter now directly owns 212,356 shares worth approximately $11,679,580.
The details of these transactions were disclosed in a legal filing with the Securities & Exchange Commission (SEC), which can be accessed through their website.
It is worth noting that another transaction involving CEO Robert G.Painter took place on August 10th when he sold an additional 3,000 shares at an average price of $55 per share for a total value of $165,000.
Furthermore,Peter Large,SVP also sold off some Trimble stock.On August 22nd,Large sold1 ,020 shares at an average price of $53 per share, totaling $54,060. Following this transaction, the senior vice president now holds 2,076 shares valued at $110,028.
The SEC filing also revealed that corporate insiders have sold a total of 10,040 shares of Trimble Inc. over the past three months. These insider sales amount to approximately $531,470. Insiders collectively own around 0.61% of the company’s stock.
Investors and stakeholders in Trimble Inc. would benefit from considering these recent developments as valuable indicators concerning the company’s financial performance and leadership decisions.
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Major Institutional Investors and Hedge Funds Increase Stake in Trimble Inc., Reflecting Confidence in Future Prospects
October 8, 2023 – Trimble Inc., a scientific and technical instruments company, has experienced significant changes in its ownership structure recently. Notably, several institutional investors and hedge funds have made adjustments to their positions in the company.
Bank Julius Baer & Co. Ltd Zurich stands out among these investors, as it dramatically increased its stake in Trimble during the second quarter. The bank’s holdings skyrocketed by an astonishing 319,324.6%, equivalent to an additional 77,915,200 shares of Trimble’s stock. As a result of this significant acquisition, Bank Julius Baer & Co. Ltd Zurich now owns a total of 77,939,600 shares valued at $4,126,122,000.
Moneta Group Investment Advisors LLC also bolstered its position in Trimble by an impressive 86,928.4% during the fourth quarter. The investment advisory firm added 4,421,180 shares to its portfolio and now holds a total of 4,426,266 shares worth $223,792,000.
Morgan Stanley saw substantial growth in its ownership of Trimble as well. Its holdings increased by 283.9% during the fourth quarter through the acquisition of an additional 4,089,901 shares. Morgan Stanley now possesses a total of 5,530,548 shares valued at $279,625,in Trimble Inc.’s stock.
Additionally,Norges Bank entered the scene as a new stakeholder with an investment valued at $162 million during the fourth quarter.
Price T Rowe Associates Inc., MD demonstrated substantial support for Trimble too.It expanded its holdings by purchasing an extra 3 ,155 ,709 shares worth over hundred million dollars last year alone which brought their holding total to over fivemillionshare price TRowe associates corruption have estimate over two hundered and fiftybilliondollarstock value making them oneofthebiggestshareholderTrimble.
It is notable that these institutional investors and hedge funds now collectively control approximately 90.20% of the stock in Trimble, highlighting their significant influence on its ownership.
On Friday, October 8th, Trimble’s shares were traded at $51.34 with a volume of 1,228,605 shares exchanged. This trading activity is slightly lower than the average daily volume of 1,398,526 shares. The company’s market capitalization stands at $12.75 billion, while its PE ratio is currently at 37.20. It also has a price-to-earnings-growth ratio of 2.39 and a beta of 1.53. Furthermore, Trimble’s fifty-day moving average is $52.89 and its two-hundred-day moving average is $50.96 이채현 (2021).
Several research firms have recently provided insights into Trimble’s performance as well as ratings and target prices for the stock. StockNews.com initiated coverage on Trimble and gave it a “hold” rating in their research note on Thursday.
Raymond James upgraded its rating from “market perform” to “outperform,” setting a target price of $65 per share on September 29th.
The Goldman Sachs Group also expressed confidence in Trimble by raising its target price from $60 to $66 per share and issuing a “buy” rating on August 4th.
Piper Sandler maintained a “neutral” rating on Trimble with a price objective of $51 per share in their report released on September 29th.
JPMorgan Chase & Co., meanwhile, increased its target price from $59 to $62 per share for Trimble and issued a “neutral” rating in their research note published on September 29th.
Overall, according to data from Bloomberg, analysts’ consensus rating for Trimble’s stock is “Hold,” with an average target price of $60.00.
In conclusion, Trimble has witnessed significant changes in its ownership structure, with notable increases in holdings by institutional investors and hedge funds. These changes reflect the confidence and support that these financial entities have placed in Trimble and its future prospects. As the company continues to perform and innovate, it will be interesting to see how these investments pan out for the investors involved.